looked very grave.

"I knew of no other man in the city with whom I cared to be
associated; and so, after you declined, took the whole amount that
wats to be raised here, myself."

"A hasty and unwise act, believe me, Mr. Markland," said the other.
"How soon do you expect returns from this investment?"

"Not for a year, at least."

"Say not for two years."

"Well--admit it. What then?"

"Your annual income is at once diminished in the sum of about
twenty-five hundred dollars, the interest on these forty thousand
dollars. So, at the end of two years, you are the loser of five
thousand dollars by your operation."

"It would be, if the new business paid nothing. But, when it begins
to pay, it will be at the rate of one or two hundred per cent. on
the amounts paid in."

"May be so."

"Oh! I am sure of it."

"The whole scheme has a fair front, I will admit," answered
Brainard. "But I have seen so many days that rose in sunshine go
down in storm, that I have ceased to be over confident. If forty
thousand were the whole of your investment, you might, for so large
a promised return, be justified in taking the risk."

"Mr. Fenwick thinks nothing further will be required," said
Markland.

"But don't you remember the letter, in which he stated, distinctly,
that several assessments would, in all probability, be made, pro
rata, on each partner?"

"Yes; and I called Mr. Fenwick's attention to that statement; for I
did not care to go beyond forty thousand."

"What answer did he make?"

"Later intelligence had exhibited affairs in such a state of
progress, that it was now certain no further advance of capital
would be required."

"I hope not, for your sake," returned Brainard.

"I am sure not," said Markland, confidently, A third party here
interrupted the conversation, and the two men separated.

As might be supposed, this interview did not leave the most
agreeable impression on the feelings of Markland. The fact that in
selling stocks and other property to the amount of forty thousand
dollars, and locking up that large sum in an unproductive
investment, he would diminish his yearly income over twenty-five
hundred dollars, did not present the most agreeable view of the
case. He had not thought of this, distinctly, before. A little
sobered in mind, he returned homeward during the afternoon. Ten
thousand dollars had gone forward to New York; and in the course of
next week he must produce a sum of equal magnitu